The Board of JPMorgan European Investment Trust plc today announces that it has been informed by J.P. Morgan Asset Management that after 23 years with JPMorgan, all of which spent as the portfolio manager of the company, Stephen Macklow-Smith has decided to retire from asset management. He will leave J. P. Morgan Asset Management on December 31, 2020.

Alexander Fitzalan-Howard, Michael Barakos and Tom Buckingham will continue to manage the assets of the company and will be joined by three additional investment professionals, Zenah Shuhaiber, Timothy Lewis and Matt Jones.

Michael Barakos and Tom Buckingham will continue as co-managers of the Income Portfolio and will be joined by Matt Jones. However, to reflect more clearly the different investment process employed by the Income Portfolio, as distinct from the Growth Portfolio, Alexander Fitzalan-Howard will no longer be a named co-manager on the Income Portfolio. He will remain a co-manager on the Growth Portfolio and will be joined by Zenah Shuhaiber and Timothy Lewis.

There is no change to the investment objectives or investment policies of either the Growth or Income Portfolios. These management changes will come into effect on October 31, 2020.

An employee of JPMorgan since 1997, Stephen Macklow-Smith was previously Head of the European team at HSBC Asset Management. Prior to this, he was a fund manager of European pension fund assets at Henderson Administration.

Stephen Macklow-Smith obtained an M.A. in Classics and Modern Languages from Oxford University.